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you have a nuisance tax like bottle taxed on bad -- back taxes. this does not make for an appealing and attractive -- the city is very attractive. gerri: i would not want to come to baltimore. how likely is it that baltimore will have to file bankruptcy? >> i don't think it will file bankruptcy. they're not as bad as some places, but i were close to the maryland. i and our representative of the people in the general assembly. they're tired to have global we don't have any money to bell her out. friends after reform and take care of those pensions and health care committee rid of a grand prix idea and have to start spending with an air means. that means cuts in certain areas commands is going to have to try to do something about crime and drugs and gangs and make people want to come to this city. gerri: that is a long laundry list. thank you for coming on. appreciate your time. tell us more. >> thank you. gerri: states and cities across the country struggled to get out of the red. there could be new taxes on the rise in to pay for failing infrastru
you have a nuisance tax like bottle taxed on bad -- back taxes. this does not make for an appealing and attractive -- the city is very attractive. gerri: i would not want to come to baltimore. how likely is it that baltimore will have to file bankruptcy? >> i don't think it will file bankruptcy. they're not as bad as some places, but i were close to the maryland. i and our representative of the people in the general assembly. they're tired to have global we don't have any money to bell...
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taxes. tom: i lived in california a long time, i'm very familiar with prop 13, and everyone has been blaming prop train since it prop 13, it is not tax limitation that has kept seniors from being taxed out of their homes but the spending has been far more than revenues, it is a spending problem that we keep repeating in washington, they have it in sacramento. >> and aggravating the problem, it is a progressive tax system, if you earn more than $50,000, you pay 9.3% of your income in taxes, and more than a million a double down on the sim system, u pay 33%, the highest. tom: they know that people can't or won't pick up and leave. we're funny creatures, i think they knowb that about us, people don't go anywhere. >> well, that is true, however, that only to an e an extent, california has great weather, but if you can't afford it, and there are no jobs, a hundred thousand people are leaving each year. tom: and next door is nevada with a zero income tax that helps, but it does not have an ocean,
taxes. tom: i lived in california a long time, i'm very familiar with prop 13, and everyone has been blaming prop train since it prop 13, it is not tax limitation that has kept seniors from being taxed out of their homes but the spending has been far more than revenues, it is a spending problem that we keep repeating in washington, they have it in sacramento. >> and aggravating the problem, it is a progressive tax system, if you earn more than $50,000, you pay 9.3% of your income in...
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nearly 9 billion in assorted other taxes, a total of more than $24 billion in taxes. so, let's revisit the top of the segment for a moment. according to today's earnings report exxon earned about $10 billion last quarter. the oil giant paid 24 billion in taxes. look at that comparison. and that is just the fourth gerri: for 2012, they earned $45 for 2012 exxon earned 45 billion paid 102 billion. in fact, their tax rate, 31 percent -- that does not sound like a free ride to meet. to put it into perspective, their tax bill was greater than the entire gdp of morocco. think about it. an entire country. talk about there fair share. the fair share, if that's what we are striving more, the irs has to give its money back. unlike your pet projects like solyndra, exxon is more than profitable, and it puts money back into the economy in the form of nearly $37 billion in energy investments. stop making them out to be the bad guys. like you have other successful americans that take pride in a u.s. company being number one in the world. that's a good thing. coming up next, traders
nearly 9 billion in assorted other taxes, a total of more than $24 billion in taxes. so, let's revisit the top of the segment for a moment. according to today's earnings report exxon earned about $10 billion last quarter. the oil giant paid 24 billion in taxes. look at that comparison. and that is just the fourth gerri: for 2012, they earned $45 for 2012 exxon earned 45 billion paid 102 billion. in fact, their tax rate, 31 percent -- that does not sound like a free ride to meet. to put it into...
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a new federal tax policy. the latest push in congress to make marijuana legal and tax it. president obama proposes a short-term fix to delay automatic spending cuts one day after he blows another budget deadline. and the shocking proof union leaders just want more power, not power to the people. "the willis report" is on the case. all that and more coming up later, but first, the top story tonight, building in washington can change, totally remake current marijuana laws. including legalizing industrial production as well as establishing a federal pot tax. lawmakers on both sides of the aisle worked away on these bills, one of which introduced just today by two democratic congressman. both of them calling for an end to federal pot prohibition. will it work? joining us now, drug policy visor and founder and executive director of the drug policy alliance. starting with you. melissa: it is a lot like the appeal of alcohol probation. if it doesn't work, it is not effective and they say it is costing tens of billions of dollars every year, diverting precious law-enforcement reso
a new federal tax policy. the latest push in congress to make marijuana legal and tax it. president obama proposes a short-term fix to delay automatic spending cuts one day after he blows another budget deadline. and the shocking proof union leaders just want more power, not power to the people. "the willis report" is on the case. all that and more coming up later, but first, the top story tonight, building in washington can change, totally remake current marijuana laws. including...
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no increases in wages. >> payroll taxes have gone up. >> have tax rates generally gone up? >> only down? >> exports are weak but they have held unreasonableably. >> we are much better off than europe. it is a worldwide slow down, we are actually doing pretty dam well. >> trade balance will be an all time record when the figures come out in february. >> the answer is, it is too close to (woman) 3 days of walking to give a breast cancer survivor a lifetime-- that's definitely a fair trade. whoo! you walk with friends, you meet new friends, and you keep those friendships. it was such a beautiful experience. (woman) ♪ and it's beautiful ♪ undeniable (woman) why walk 60 miles in the boldest breast cancer event in history? because everyone deserves a lifetime. visit the3day.org to register or to request more information today. ♪ burning like a fire ♪ building up from deep inside it was 3 days of pure joy. susan g. komen's investments in early detection and treatment have helped reduce breast cancer mortality in the u.s. by 33% since 1990. help us continue serving the mill
no increases in wages. >> payroll taxes have gone up. >> have tax rates generally gone up? >> only down? >> exports are weak but they have held unreasonableably. >> we are much better off than europe. it is a worldwide slow down, we are actually doing pretty dam well. >> trade balance will be an all time record when the figures come out in february. >> the answer is, it is too close to (woman) 3 days of walking to give a breast cancer survivor a...
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or taxing the economy? do you think that, more pro-business, pro-growth agendas just offered up even as a olive branch we could get enough businesses and people out there to pay regular taxes but fill that void are talking about. >> i am absolutely for growing the economy, you need fiscal responsibility and growth, you need both, this is not going to happen overnight. right now about 14%, okay? of our money, our money comes from revenues, 25%, spending, the gap is too big, we need to narrow down, where it was 3%, you need revenues up, you need spending down, both have to happen together. charles: it does not fel like, that the president got a huge victory, a big time tax hike. very little spending cut. and there is dropping hints today or during super bowl, -- a lot of times we get these things and hear about big projects that go after the rich. but we also end up going after the not so rich, because the payroll tax hike i think will be devastating, so far the tea leaves are not reading so well for that but
or taxing the economy? do you think that, more pro-business, pro-growth agendas just offered up even as a olive branch we could get enough businesses and people out there to pay regular taxes but fill that void are talking about. >> i am absolutely for growing the economy, you need fiscal responsibility and growth, you need both, this is not going to happen overnight. right now about 14%, okay? of our money, our money comes from revenues, 25%, spending, the gap is too big, we need to...
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by cutting spending, only way to pay off the debt is through tax revenues, not raising taxes. by creating jobs so people can pay taxes, what is going to happen, if they go through with sequestration, we'll lose 2 million jobs, that is 2 million families issue of real people, adding to that 9% unmuch. that drains the economy, this is the wrong approach, i'm here so day it. >> that is what mitt romney was saying, he said, i'm not looking to raise people's taxes, i am looking to get more people employed that will in turn bridge more tax money into the government. let's not tax job creators but get more people working. charles: that -- what do you cut? >> you have to look at how debt is created. we're all worried about the debt, got that but the fact is, that you could spend every dime that government has,. charles: and we do. >> wait, in retiring debt. you will still have debt. there is an exponential increase in the interest, we have to get our heads away from the fact our first thing is to just retire debt by cutting spending by saying let's create jobs, and grow the economy th
by cutting spending, only way to pay off the debt is through tax revenues, not raising taxes. by creating jobs so people can pay taxes, what is going to happen, if they go through with sequestration, we'll lose 2 million jobs, that is 2 million families issue of real people, adding to that 9% unmuch. that drains the economy, this is the wrong approach, i'm here so day it. >> that is what mitt romney was saying, he said, i'm not looking to raise people's taxes, i am looking to get more...
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and the long litany of taxes yet still to hit people in the pocket books. yeah, that's a reality and i guess outside the beltway bubble people are feeling it. >> sean: juan, if you remember they made a big deal, the president did, saying this would be under 900 billion dollars. the reisn't estimate up to 2.8 trillion a lot more than what they estimated. the cheapest plan they're saying now is going to cost $20,000, family plan by 2016. and the house report that came out said obamacare compliance will take a staggering 127 million man hours. you don't see any problems in that at all? you don't-- >> i think you're -- you're -- the sky is falling, the sky is falling, obama is bad, but i'm just telling you in fact what the cbo is telling you the rate of increase in terms of health care spending in the country has gone down in two years and that's part of the process of putting in affordable health care act. >> hello, reality, yeah, reality check. i may not be a real journalist like you, juan, but i'm not a polly anna either and out here in the real world the ef
and the long litany of taxes yet still to hit people in the pocket books. yeah, that's a reality and i guess outside the beltway bubble people are feeling it. >> sean: juan, if you remember they made a big deal, the president did, saying this would be under 900 billion dollars. the reisn't estimate up to 2.8 trillion a lot more than what they estimated. the cheapest plan they're saying now is going to cost $20,000, family plan by 2016. and the house report that came out said obamacare...
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it was a flat tax. those making over a hundred thousand dollars per year or 20,000 in today's money were taxed a whopping 3% rate. next year congress deciding it like this idea that people would just send money there wait introduced a sliding scale. those making about $10,000 or 229,000 canal would be attacked at 5%, and the idea of taxing the rich was born. guess what? the tax was repealed in 1866. congress decided they did not want free money anymore. that is, until 1994 when it tried to bring it back, but this time the supreme court stepped in calling the tax unconstitutional. so, or teeseven republican offer a constitutional amendment and 100 years ago yesterday delaware became the 306th state to ratify it and the income tax was official. so before you go cursing the lawmakers from 1913, the income tax looked a lot different than now. take a look at that. for starters, this is what the tax code looked like a century ago. thirty-eight pages. that's it. tiny. today it is nearly 74,000 pages with the t
it was a flat tax. those making over a hundred thousand dollars per year or 20,000 in today's money were taxed a whopping 3% rate. next year congress deciding it like this idea that people would just send money there wait introduced a sliding scale. those making about $10,000 or 229,000 canal would be attacked at 5%, and the idea of taxing the rich was born. guess what? the tax was repealed in 1866. congress decided they did not want free money anymore. that is, until 1994 when it tried to...
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low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. cheryl: markets under pressure on this thursday. we are down 107 points on the dow. restaurants across the country stricken portion sizes. it turns out the record flu season is good for business. how you can profit from it. all of that is coming up. dennis: bottom of the hour. stocks every 15 minutes. we have nicole petallides. caterpillar. nicole: we are seeing it down about 2% at the moment. we are seeing at lower on this day where they expect earnings to fall. it is such a wide range. another analyst getting on board. eleven analysts have reduced their estimates on caterpillar over the last 30 days. one of the reasons they are doing that is uncertainty. caterpillar has such a wide r
low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. cheryl: markets under pressure on this thursday. we are down 107 points on the dow. restaurants across the country stricken portion sizes. it turns out the record flu...
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low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. all stations come over to mithis is for real this time. step seven point two one two. rify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond it. siemens. answers. it's delicious. so now we've turned her toffee into a business. my goal was to take an idea and make it happen. i'm janet long and i formed my toffee company through legalzoom. never really thought i would make money doing what i love. [ robert ] we created lelzoom to help people start their business and launch their dreams. go to legalzoom.com today and make your busine
low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. all stations come over to mithis is for real this time. step seven point two one two. rify and lock. command is locked. five seconds. three, two, one. standing by for...
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gerri: taxes is what they mean. republicans have been at odds over sequestration but now they say they have a plan. >> the president gave us a proposal, cuts, defense spending once again, i have 500 billion of new taxes taxes, and also cuts from domestic spending. it is irresponsible, and acceptable, it leaves the troops and economy and ready to face the cuts. gerri: he proposes a patch that would cut only 10 percent of the workforce. is that the way to go? or do we avoid sequestration altogether? >> probably not going to work for greg has been tossed around to reduce the federal workforce by attrition and for every three people that leave voluntarily only replace with one. over 10 years says with the sequestration would save in one year. it is a patch to come up something else but a lot of republicans believe the president will not agree to other big cuts without tax revenues. republicans come to the idea, which they designed to me so unpalatable, it would be more rational cuts, but republicans say it is the lot an
gerri: taxes is what they mean. republicans have been at odds over sequestration but now they say they have a plan. >> the president gave us a proposal, cuts, defense spending once again, i have 500 billion of new taxes taxes, and also cuts from domestic spending. it is irresponsible, and acceptable, it leaves the troops and economy and ready to face the cuts. gerri: he proposes a patch that would cut only 10 percent of the workforce. is that the way to go? or do we avoid sequestration...
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americans know that's the form we all fill out to file our income taxes. but this one looks different. why? well because it's an antique. you see today is the 100th anniversary of the 16th amendment which gave congress the right to levee a federal personal income tax. this was the first form for filers. when the filing deadline was march 1st instead of april 15th and the top tax rate was, get this, 6 f% on incomes over $500,000. the first act was only 15 pages long. today the tax code has grown just a bit to more than 73,000 pages with all of the rulings and regulations. now, we can't get rates back to the 1913 levels, but can't we try to get back to something simple, straight forward and honest that would, once again, fit on 15 pages? the current answer to our gps challenge question was, "c," the new york fed says at last check there was 6,700 tons of gold in their vault. that is more than a half million bars of the stuff and by our cal klgzs, that's more than $300 billion worth of gold sitting below street level in lower manhattan. all of it is owned by
americans know that's the form we all fill out to file our income taxes. but this one looks different. why? well because it's an antique. you see today is the 100th anniversary of the 16th amendment which gave congress the right to levee a federal personal income tax. this was the first form for filers. when the filing deadline was march 1st instead of april 15th and the top tax rate was, get this, 6 f% on incomes over $500,000. the first act was only 15 pages long. today the tax code has grown...
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has them paying taxes. we were reviewing some statistics earlier where actually on the lower-skilled workers when you look at services consumed in taxes paid, they often times are net contributors to society, economically and otherwise. liz: well they're paying sales stacks. >> i don't think they're a tag at all.
has them paying taxes. we were reviewing some statistics earlier where actually on the lower-skilled workers when you look at services consumed in taxes paid, they often times are net contributors to society, economically and otherwise. liz: well they're paying sales stacks. >> i don't think they're a tag at all.
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increase after-tax increase after-tax increase. the solution is by raising taxes on somebody and you and i both know, your viewers know we increase taxes on the american people in the way it has been done, get decrease economic activity. the economy cannot be vibrant, cannot create jobs and dreams are destroyed when you increase taxes. liz: what you also point out is taxes corrode the sense of self-reliance. the new cbo report that says we will be $845 billion in debt talks about the window. this is what i'm getting at, the st. louis federal reserve said it is so unreliable back in 2000 said we would be in surplus, we would wipe out $3.5 trillion deficit. they were utterly wrong at that in the st. louis fed says what is more reliable is the model used on wall street to fix stocks. i am upset about this, it is underpinned regulatory policy, so why rely on the same report year after year that is so off the mark? >> you are spot on. we have tried to make certainly put in place positive reforms for the congressional budget office so we
increase after-tax increase after-tax increase. the solution is by raising taxes on somebody and you and i both know, your viewers know we increase taxes on the american people in the way it has been done, get decrease economic activity. the economy cannot be vibrant, cannot create jobs and dreams are destroyed when you increase taxes. liz: what you also point out is taxes corrode the sense of self-reliance. the new cbo report that says we will be $845 billion in debt talks about the window....
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we know what is going on there with sarkozy fleeing the country because of the gher tax rates. this sum will set you back 7500 square feet. it's going to go for about 13 million as the listing price. of course five bedrooms and saw the screening room. the pool, hot tub, views of downtown, but if you come over here we can take a look and you can see the glasses encased masters week and, of course, you wake up every morning with a view of santa monica and the pacific ocean. gerri: that is gorgeous. have you put a bit in? >> i guess it is worth every penny if you have them. i don't know. gerri: it is pretty. amazing property. thank you for bringing it to us and we appreciate it. >> you're welcome gerri: special coverage of the real-estate story continues throughout the show. and 20 minutes i will be joined by a famed real-estate agent. she will give us a peek inside as $16 million penthouse for sale right here in new york city. there we are. a warning to congress that another financial crisis could be around the corner if we don't get rid of too big to fail once and for all. detai
we know what is going on there with sarkozy fleeing the country because of the gher tax rates. this sum will set you back 7500 square feet. it's going to go for about 13 million as the listing price. of course five bedrooms and saw the screening room. the pool, hot tub, views of downtown, but if you come over here we can take a look and you can see the glasses encased masters week and, of course, you wake up every morning with a view of santa monica and the pacific ocean. gerri: that is...
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in ten short years either taxes will have to go way up or the promise of social security and health care will have to come way down. you are a baby boomer or your parents are boomers. i hope you're not really counting on these programs to take care of you in your old age . melissa: that definitely was not end them not. be sure to watch the tom sullivan show this weekend. you can catch it on seven and 10:00 p.m. on saturday and sunday, 7:00 a.m. and 7:00 p.m. eastern time on sunday. happy friday. thank you for coming on. watch out for this note. happy birthday. you will see you back here monday. ♪ gerri: hello, everybody. i'm gerri willis. tonight on "the willis report". the housing market and recovery. tonight the real realist a story. despite hundreds of regulations put into place by this administration to big to fail is still a real risk. we will tell you what it means for you and your money. and one of the biggest names in fashion. supermodel here to kick off our series of special reports. "the willis report" is on the case. ♪ gerri: all of that and more coming up, but first, our
in ten short years either taxes will have to go way up or the promise of social security and health care will have to come way down. you are a baby boomer or your parents are boomers. i hope you're not really counting on these programs to take care of you in your old age . melissa: that definitely was not end them not. be sure to watch the tom sullivan show this weekend. you can catch it on seven and 10:00 p.m. on saturday and sunday, 7:00 a.m. and 7:00 p.m. eastern time on sunday. happy...
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republicans saying president obama, you've got your tax increases in the cliff in early january. we want spending cuts now and if you don't agree with our spending cuts we'll let the sequester cuts, the indiscriminate across-the-board take effect. the white house said if i get the word out on what this means you wouldn't dare do that. that's what the white house briefing was about. administration economic officials talked about the middle class impacts, talked about 70,000 kids being thrown off of head start and 2,000 fewer food inspections. 540 million less in loan guarantees for small business and 375,000 fewer mental health patients being treated. 10,000 teachers lost, leon panetta, the outgoing defense secretary, has already said that the unacceptable cuts to the nation's defense would result so what we've got to see is whether republicans believe that or whether they believe it's a chicken little kind of argument and some democrats privately on the hill think that the sequester cuts might not be all that bad because they cut some of the defense programs that democrats have w
republicans saying president obama, you've got your tax increases in the cliff in early january. we want spending cuts now and if you don't agree with our spending cuts we'll let the sequester cuts, the indiscriminate across-the-board take effect. the white house said if i get the word out on what this means you wouldn't dare do that. that's what the white house briefing was about. administration economic officials talked about the middle class impacts, talked about 70,000 kids being thrown off...
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texas doesn't have a state tax. they have no corporate tax. the taxes in your state are the highest in the union. now, the weather in california is fabulous. you have got the pacific ocean there. i mean, you have a lot -- >> -- it's not just the weather. >> bill: that's why people want to live there shouldn't california be trying to -- the stats are there is a lot of people in businesses moving out of california. california is not a growth place anymore. >> well, actually california has some of the best universities. we have well capitalized companies here. all of our venture money is here. seed funding is being deployed locally. enabling companies, the creation of companies to decrease. the -- we're creating industries that never existed before here in california. and those -- we have small and large -- small, median size companies becoming institutional grade. and technologies and touching every vertical. the fact of the matter is in 20011, last stats, 254 california companies moved out of the state. that was 26% more than 10. you guys got s
texas doesn't have a state tax. they have no corporate tax. the taxes in your state are the highest in the union. now, the weather in california is fabulous. you have got the pacific ocean there. i mean, you have a lot -- >> -- it's not just the weather. >> bill: that's why people want to live there shouldn't california be trying to -- the stats are there is a lot of people in businesses moving out of california. california is not a growth place anymore. >> well, actually...
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unfortunately the president's version of tax reform is raising taxes and raising tax rates. we saw it in the beginning of the year. the senate followed suit. we're going to have to fight hard and convince the american people that it's our kind of tax reform that will produce a growing economy and yield more opportunity for more working families so their life can work again. >> eric cantor, republican from virginia. as always, sir, we appreciate you. >> thank you, larry. >> let's bring back our panel. keith, guy and david. keith, did you hear him say he was for the sequester? >> i think i heard that. >> i'm not sure. >> i think i heard it. i'm not sure what's going to happen. i heard earlier that -- he indicated there would be a sequester and no tax increase. >> that was my reading. boehner said the same thing today. did you hear him say, yes, there will be a sequester? >> no. i think he hinted at it. we have heard other republican leaders say that. i would have preferred to hear majority leader cantor say if the president cannot come together with us with other cuts we are a
unfortunately the president's version of tax reform is raising taxes and raising tax rates. we saw it in the beginning of the year. the senate followed suit. we're going to have to fight hard and convince the american people that it's our kind of tax reform that will produce a growing economy and yield more opportunity for more working families so their life can work again. >> eric cantor, republican from virginia. as always, sir, we appreciate you. >> thank you, larry. >>...
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every day the president threatens to raise a tax or another. as long as the threat of new taxes, huge regulations from the epa hang over the private sector, we're not going to get the growth we need. >> you know one of the biggest drags on fourth quarter gdp that report showed was the reining in of defense spending as we got out of afghanistan and retracted some troops. that is what was a huge contributor to that decline in growth in the fourth quarter. now are we doing this all over again with the sequestration here? >> sequestration is already effecting government expenditures as agencies try to guess what position they'll be in. of course they're being conservative. the deficit problem is the problem for later in this decade. the jobs problem is the problem today. and this talk of a contracti contractionary fiscal position. it is hurting the economy. >> he wantive harris? >> in the end, we've got to get our deficit under control while we grow the private sector economy. we can't do it through new taxation. you can't tax your way out of this
every day the president threatens to raise a tax or another. as long as the threat of new taxes, huge regulations from the epa hang over the private sector, we're not going to get the growth we need. >> you know one of the biggest drags on fourth quarter gdp that report showed was the reining in of defense spending as we got out of afghanistan and retracted some troops. that is what was a huge contributor to that decline in growth in the fourth quarter. now are we doing this all over...
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budget deficits, debt, the tax collector for the welfare state. it should have a whole panoply of issues. that part i agree with eric cantor on. >> i was in the front row listening to that speech. if i closed my eyes and didn't know who was standing behind that podium i would have thought it was barack obama. he came out for all sorts of progressive things. but he doesn't attach any legislation to the. he is just trying to change the surges and he has the slogan, making life work for more people. but, you know, he's a politician. he's supposed to be making government work. he acts like a life coach. >> eleanor, if it had been barack obama, you would have supported everything he said. >> i >>> issue four. immigration reform. >> it's no secret that there are more than 11 million people here illegallily, many of whom have become part of the fabric of our country. they, like us, have families and dreams. while we are a nation that allows anyone to start anew, we are also a nation of laws, and that's what makes tackling the issue of immigration reform
budget deficits, debt, the tax collector for the welfare state. it should have a whole panoply of issues. that part i agree with eric cantor on. >> i was in the front row listening to that speech. if i closed my eyes and didn't know who was standing behind that podium i would have thought it was barack obama. he came out for all sorts of progressive things. but he doesn't attach any legislation to the. he is just trying to change the surges and he has the slogan, making life work for more...
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americans know that's the form we all fill out to file our income taxes. but this oneoo
americans know that's the form we all fill out to file our income taxes. but this oneoo
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low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. ♪ . melissa: news is out about chevron today. reuters reports the oil giant may be loaning venezuela's state oil company $2 billion to boost production. the credit would help the country pay its bills but just the idea of this loan brings up a number of questions, like what is really the intent behind it? why make a deal like this right now given all the uncertainty about who is going to run the country? joining me, john kingston, global director for news for platts. welcome back to the show. my first question when you say loan, you really think venezuela will pay you back. >> it will be $2 billion in exchange for crude. they have crude to deliver. if they're paying crude to make the
low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. ♪ . melissa: news is out about chevron today. reuters reports the oil giant may be loaning venezuela's state oil company $2 billion to boost production. the credit...
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would i have said had we not had any contractionary moves, the ending of the payroll tax cut and also the sequester, whatever cut we see coming out of there, i would have said probably close to 3% because of the kick up in the housing market. clearly there's a rebound there that's very, very good news. when you factor in the drag we'll get at the end of the tax cut and we don't know exactly what we'll see in sequester-related cuts, that will approximate some off gdp growth, so maybe 2 or upped. not a good story. >> it's a question of balance. >> if that's the case, and would i like to know whether you agree with that, ken, the question is this market priced for perfection, and are we poised for a decline given the fact that the economy won't keep up with expectations? >> i think the risks are balanced. weak growth, moderate growth, and i agree 2%, though maybe towards the end of the year it will be looking better, but, you know, i don't think we're like really likely to swing in recession neglecting the q4 gdp number. growth could turn out to be better. i think it's balanced risk, mod
would i have said had we not had any contractionary moves, the ending of the payroll tax cut and also the sequester, whatever cut we see coming out of there, i would have said probably close to 3% because of the kick up in the housing market. clearly there's a rebound there that's very, very good news. when you factor in the drag we'll get at the end of the tax cut and we don't know exactly what we'll see in sequester-related cuts, that will approximate some off gdp growth, so maybe 2 or upped....
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the repate ration tax is gigantic. that's why a lot of money is overseas in tax haven. get the money back to the united states so they'll hire and spend capital. that's how you get the economy to grow. >> do you think we see 15,000 this year? it's only the first month. >> here's the funny thing. a lot of people are on the sidelines. that money will come in because bond rates are at 2%. >> are you one of the those people on the sidelines? >> i've been in but i'm getting nervous. at some point the market will say i'm over valued, i've got to correct. everybody is calling for correction. that means the market will continue upward. >> there were a lot of guys like you, scott, in the middle of the crisis. >> i thought i was one o one ofa kind. >> you said maybe we should take the money out of the market, don't play that. then you missed this rally. what's your advice for the average investor. >> you have to start legging in here. i really do, i think the market is going to reward you for taking on some risk. there's really nowhere else to go, jenna. even corporate bobbe bond
the repate ration tax is gigantic. that's why a lot of money is overseas in tax haven. get the money back to the united states so they'll hire and spend capital. that's how you get the economy to grow. >> do you think we see 15,000 this year? it's only the first month. >> here's the funny thing. a lot of people are on the sidelines. that money will come in because bond rates are at 2%. >> are you one of the those people on the sidelines? >> i've been in but i'm getting...
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questions remain with future tax with american interests. fox news correspondent with our report. >> based on time, ed distance. >> the redneck gets in on negative gone there in time. >> it takes hours to be able to respond. >> defense secretary panetta and chief dempsey said by the military could not do more to save the lives of about sitter christie's -- chris stevens and benghazi wants whatever 11th. >> in a the state's military is not and frankly not should be and then on one service capable of arriving on the scene within minutes to every possible contingency around the world >> republican senators were not satisfied. >> did you know, how long the attack would last? >> no idea is to make it last two days and never airplanes in the world before it was concluded? >> no senator. >> your responses are very inadequate and the same inadequacy for the security that you provided at the consulate. >> what did the president know and what he knew it. >> he did not asking about visibility what we could do? did you have further communications that n
questions remain with future tax with american interests. fox news correspondent with our report. >> based on time, ed distance. >> the redneck gets in on negative gone there in time. >> it takes hours to be able to respond. >> defense secretary panetta and chief dempsey said by the military could not do more to save the lives of about sitter christie's -- chris stevens and benghazi wants whatever 11th. >> in a the state's military is not and frankly not should be...
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low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes poible loss of principal. melissa: turning now to really alarming news about a shipment of illegal arms from the iranian government to insur gents in yemen. sources tell fox news that the weapons were an attempt by the owing iranian regime to destabilize the middle east further, but at what cost? is the u.s. doing enough to stop them? judy miller, senior fellow at the manhattan institute and fox news contributor. welcome back to the show. i mean, this is a really alarming story; right? >> just part of the a pan tern by the iranians to destalize all of the government that have already been destabilized by the arab spring. now, in yemen, you have 25 million people, the poorest country in the middle east that's had
low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes poible loss of principal. melissa: turning now to really alarming news about a shipment of illegal arms from the iranian government to insur gents in yemen. sources tell fox news that the...
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you have to get in the back of the line and pay taxes. we don't know what kinds of fines they are going to have to pay. two different talks here of amnesty. ann coulter is on the rational review side. she said some were democratic voters. who is going to win this argument in the republican are party. do the democrats need all of the republicans? they just need some. >> it should be fascinating to watch. into the storm goes marco rubio. we are going to find out a lot in the cone teflt text of his aguilt to weather the storm. if he can't rally people to a great cause. he goes into the storm now with conservatives and republicans about to have a important debate about the future of our party.
you have to get in the back of the line and pay taxes. we don't know what kinds of fines they are going to have to pay. two different talks here of amnesty. ann coulter is on the rational review side. she said some were democratic voters. who is going to win this argument in the republican are party. do the democrats need all of the republicans? they just need some. >> it should be fascinating to watch. into the storm goes marco rubio. we are going to find out a lot in the cone teflt text...
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on jobs, the we should put a tax on innovation, put a tax on patient care. charles: also there is another aspect to this. a lot of money. it has to come from somewhere. if it comes out of research and development that means future innovation is either lost or is pushed down road. that future innovation even though it comes up in the numbers, income statements and price-to-earnings ratio and all that stuff, also has a human factor and the human impact to this thing. we are talking about people who might have -- and they won't be because these innovations have been pushed off. >> you are right. we are all about patient care. if you go broader than that we are impacting live in many ways and starting with the economy we know the president and congress agree we need to be growing our economy. we need to be growing jobs. we need to be growing our exports. this is an industry that offers all three of those things so whether we are impacting lives by hiring people in high-paying jobs or doing what we do every day and that is to provide better quality of life for pa
on jobs, the we should put a tax on innovation, put a tax on patient care. charles: also there is another aspect to this. a lot of money. it has to come from somewhere. if it comes out of research and development that means future innovation is either lost or is pushed down road. that future innovation even though it comes up in the numbers, income statements and price-to-earnings ratio and all that stuff, also has a human factor and the human impact to this thing. we are talking about people...
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you do want to do a 12% tax. well make it to have to pay all the lawyers, counselors, income specsists. you don't have to hire a congressman or senator to get a good deal. all you earn from the first dollar to the last dollar that is easy. it is wonderful math. melissa: you're terrific, art. >> melissa, you're terrific. melissa: next on money, a big push to the biggest makers of electronics. a vote by foxconn workers in china could have a huge implications for cost of your favorite gadget. you want to hear this one. at the end day it is all about money and numbers, darn it ♪ . investor. yeah, i'm a serious investor but i'm a busy guy. it used to be easier but now there are more choices than ever. i want to know exactly what i am investing in. i want to know exactly how much i'm paying. i want to use the samestuff. find out why nine out of ten large professional investors choo ishes for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and
you do want to do a 12% tax. well make it to have to pay all the lawyers, counselors, income specsists. you don't have to hire a congressman or senator to get a good deal. all you earn from the first dollar to the last dollar that is easy. it is wonderful math. melissa: you're terrific, art. >> melissa, you're terrific. melissa: next on money, a big push to the biggest makers of electronics. a vote by foxconn workers in china could have a huge implications for cost of your favorite...
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that is the tax-free muni market until congress decides how they want to treat the tax exemption. until we clear that path i think it will be tough sledding until we get into the later spring and beginning of summer. liz: good to see you both. ryan detrick and kevin geddes thanks for coming on. david: i think it will be easy sleding next 24, to 48 hours. liz: we're still waiting. it is starting to come down. snow is falling outside the studio here in new york. 6th avenue freezeout. it is not sticking. it is expected to get worse as the storm travels up the northeast coast. find out just how bad right after the break. david: just how real is the housing recovery? hear why david stockman, ronald reagan's office of management and budget chief, says housing is going into a dive that will last for a full generation. he is going to be here to tell us why and how you can avoid getting caught in the financial downdraft. [ indistinct shouting ] ♪ [ indistinct shouting ] [ le annncer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor.
that is the tax-free muni market until congress decides how they want to treat the tax exemption. until we clear that path i think it will be tough sledding until we get into the later spring and beginning of summer. liz: good to see you both. ryan detrick and kevin geddes thanks for coming on. david: i think it will be easy sleding next 24, to 48 hours. liz: we're still waiting. it is starting to come down. snow is falling outside the studio here in new york. 6th avenue freezeout. it is not...
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low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. lead paint poisoning affects one million children today. if you're pregnant or have young children and your home was built before 1978, you could be at risk. learn how to protect your family. to find your home's danger zones, the health effects, or just to find help, log on to leadfreekids.org. david: well it used to be that neither rain nor snow nor sleet nor hail could stop postal carrier deliveries. now, it may not be the weather but their finances will halt deliveries. liz: the u.s. postal service announced plans to end saturday delivery to hopes and businesses starting august 1st. the announcement was met with much criticism that may very well end up in lawsuits, rich edson? >> it
low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. lead paint poisoning affects one million children today. if you're pregnant or have young children and your home was built before 1978, you could be at risk. learn...
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now he wants another tax increased. this guy is an alcoholic for higher taxes and he's looking for any excuse to try to get republicans into that breyer patch and the big difference between this fight over the sequester and the fiscal cliff, obama had the upper hand with the fiscal cliff but a big increase would happen automatically. now the republicans have the upper hand. if we do nothing, we finally slightly reduce the growth rate of federal spending. i know it gets jared and the keynesians all upset. it would be good for our economy. >> so far we have cut $1.5 trillion of spending over ten years and raised about $600 billion in taxes. if cutting spending helped the economy, we ought to be doing better than we're doing right now. now, i think you guys have a point about the tax increases. it matters less when you're talking about raising taxes on people who are no income or liquidity constrained, folks at the top the scale. but i take your point. i don't think it makes sense, for example, to say let's not do these cu
now he wants another tax increased. this guy is an alcoholic for higher taxes and he's looking for any excuse to try to get republicans into that breyer patch and the big difference between this fight over the sequester and the fiscal cliff, obama had the upper hand with the fiscal cliff but a big increase would happen automatically. now the republicans have the upper hand. if we do nothing, we finally slightly reduce the growth rate of federal spending. i know it gets jared and the keynesians...
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low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. stuart: breaking news for you from the white house. fox business confirms that president obama will ask congress later today to come up with short-term spending cuts and tax revenue to avoid the march 1st deadline, sequestration. in other words, he wants smaller spending cuts now, coupled with tax increases now, and not the big spending cuts that are scheduled for march the 1st. that's what just happened. now to the business of e-cigarettes, that would be electronic cigarettes. they use a nicotine-laced vapor and companies that make them say this eliminates carcinogens that are in regular cigarettes. joining us now is logic technology's chief executive officer. he makes these e cigaret
low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. stuart: breaking news for you from the white house. fox business confirms that president obama will ask congress later today to come up with short-term spending cuts...
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one, clarification from washington, a grand bergan encompassing deficit reduction with tax reform, entime reform and deschristianry spending reforms in areas like debt. extension of the debt ceiling for two years. clarification on europe. first, the recession needs to stabilize, but beyond that, policy initiatives clearly indicate a road to political and fiscal and banking reforms and an indication that europe is serious about improving competitiveness. resumption of growth in emerging economies, like china, and finally the federal successfully engineering a modest increase in interest rates without unleashing runaway inflation. maria, these are tall orders, i know, but resolution of all these issues would be a huge boost to business confidence, capital expenditures and hiring would increase dramatically and revenues would rise, and that's what we need, maria. back to you. >> that's some list, bob. >> pretty ambitious. >> we'll be watching that. not everybody is buying into this bull market theory, by the way. pimco's bill gross is actually warning investors to be afraid, and i mean very
one, clarification from washington, a grand bergan encompassing deficit reduction with tax reform, entime reform and deschristianry spending reforms in areas like debt. extension of the debt ceiling for two years. clarification on europe. first, the recession needs to stabilize, but beyond that, policy initiatives clearly indicate a road to political and fiscal and banking reforms and an indication that europe is serious about improving competitiveness. resumption of growth in emerging...
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year due to the payroll tax coming back. so we do think that is going to hurt the consumer toward the end of the year and consumption makes up 71% of our economic growth. david: well, jeff, it is guessing game whether we're going into recession or not but no guessing game about europe. europe is in a recession. you think it will stay there for all of 2013 that is pretty bearish. why do you think so? >> well i think the market is happy right now because the market looks at two things. euro stronger relative to the dollar. that is a good sign the market is looking for. and our 10-year, spanish government bond yield is lower than they were two months ago or three months agop or six months ago. those conditions hold. crisis is over, right, david? wrong. when you look at actual data, credit, the credit to the private sector continues to contract and for me that is the heart of industry. and that means you're going to be recession. 2013. >> that is the outlook. if you believe, mark maybe in the next couple years we might see reces
year due to the payroll tax coming back. so we do think that is going to hurt the consumer toward the end of the year and consumption makes up 71% of our economic growth. david: well, jeff, it is guessing game whether we're going into recession or not but no guessing game about europe. europe is in a recession. you think it will stay there for all of 2013 that is pretty bearish. why do you think so? >> well i think the market is happy right now because the market looks at two things. euro...
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and everybody's taxes already went up as of january 1, taxes may go up some more. from taxes to the market. the dow above 14,000 for the first time since 2007 friday afternoon. let's bring in nicole. it is not like it was going to hold at 14,000, now futures are down, how much are they down? nicole: you can see the down arrows, 69 points pulling back awfully 14,000 mark. traders are not surprised. we have run up so much so far so fast. coupled with great political uncertainty in europe, something there and having to watch. it is not surprising to see a little bit of a pullback and a very strong dollar. stuart: thank you very much, back in a second. the ravens return to baltimore this morning beating the 49er 49ers. super bowl xlvii, that was it. jones set a record at returning a kickoff 108 yards, and listen to this, alicia keys set another record last night for the longest national anthem in super bowl history. all this and at a rally causing the lights go out in the super bowl. giving bud light extra free ad time and gave themselves extra promos for their shows.
and everybody's taxes already went up as of january 1, taxes may go up some more. from taxes to the market. the dow above 14,000 for the first time since 2007 friday afternoon. let's bring in nicole. it is not like it was going to hold at 14,000, now futures are down, how much are they down? nicole: you can see the down arrows, 69 points pulling back awfully 14,000 mark. traders are not surprised. we have run up so much so far so fast. coupled with great political uncertainty in europe,...
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he's raised taxes. we will see what the result is, but, again, we have empirical evidence all over the place that it ends in disaster. charles: what's interesting is the golden age of california was revitalized with the tax revolt. you know, 79-80, and that brought back prosperity to them, and back full circle, again, doing these -- prop 30 is crazy. by the way, people think, oh, california, just taxing the rich. if you make more than $48,000, you pay 9%. that's crazy. that's e enormous. >> out of control. illinois has big, big problems. couldn't float debt this week because they were downgraded. if you want to see the future of this country? look at california, look at illinois. we are walking down that path. charles: gerri, you studied this stuff. false assumptions they make, when the money doesn't come in, what's the next move? >> here's what i think. places like california and illinois turn to the federal government and say, hey, taxpayer, hey american taxpayer, pony up because we can't pay our bill
he's raised taxes. we will see what the result is, but, again, we have empirical evidence all over the place that it ends in disaster. charles: what's interesting is the golden age of california was revitalized with the tax revolt. you know, 79-80, and that brought back prosperity to them, and back full circle, again, doing these -- prop 30 is crazy. by the way, people think, oh, california, just taxing the rich. if you make more than $48,000, you pay 9%. that's crazy. that's e enormous....
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low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. we asked total strangers to watch it for us. thank you so much. i appreciate it. i'll be right back. they didn't take a dime. how much in fees does your bank take to watch your money? if your bank takes more money than a stranger, you need an ally. ally bank. your mon needs an ally. liz: as our own charlie gasparino has been reporting a deal to take computer-maker dell private could come as early as this week. now, one of the major players in the buyout could very well be tech giant microsoft, who will reportedly invest $2 billion. so what does microsoft want from dell? and what role would it play? with us, sid park, the analyst at mcadams, wright, reagan. he has been opinion this will
low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. we asked total strangers to watch it for us. thank you so much. i appreciate it. i'll be right back. they didn't take a dime. how much in fees does your bank take to...
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but it just so happened, at the end of the year, taxes seemed to go bp's way. instead of a tax rate of around 336% to 38%, they were paying about 16% and that actually is nearly all the difference. so that is not something which unfortunately we would expect something to happen on a quarterly basis. so take the money now. it's good news, but not something that you build into 2013. >> so why is the stock up to 32%? clearly that's not an operational thing. >> you're getting a little bit of melt yumm coming back in the gulf of mexico. overall volumes were down 7% year on year. if you take out the divestment, take out psas, they were down less than 1%. if you look at the u.s. liquids production, which is a real guide because it's seasonal, that was up around 45,000 barrels a day. so you've had two big fields which started at the end of the third quarter, which had been up and running for the fourth quarter. we're starting to see those come through in the fourth quarter. that's a tick in the box of what they said they were going to be doing. >> yeah. seymour pierce
but it just so happened, at the end of the year, taxes seemed to go bp's way. instead of a tax rate of around 336% to 38%, they were paying about 16% and that actually is nearly all the difference. so that is not something which unfortunately we would expect something to happen on a quarterly basis. so take the money now. it's good news, but not something that you build into 2013. >> so why is the stock up to 32%? clearly that's not an operational thing. >> you're getting a little...
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low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. >>> i'm milissa rayburger. the hos staj standoff in alabama is over. the child known only as ethan is being treated at a local hospital. his captor is dead. authorities say negotiation's with the boy's abductor detear rated. officers worried the child was in danger. they stormed the bunker. back to "hardball." >>> welcome back to "hardball." there are several states where republicans floated the idea of how electoral votes are dif i haved up. republicans controlled the state legislatures. well, the scheme seem today have crashed before they even began in most of those states. in florida, for example, top republicans have backed away. in virginia, the bill was killed in committee. in oh
low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. >>> i'm milissa rayburger. the hos staj standoff in alabama is over. the child known only as ethan is being treated at a local hospital. his captor is dead....
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demand, but we can't keep interest rates this low for a long period of time, because after inflation and taxes, 30-year money is earning nothing. it's been a huge mistake, and once interestes start to rise. >> right. >> where are the buyers going to be? >> but, david, is it really about the interest rates right now, or is it, i agree with you that there's a bubble definitely, but i think it's driven by the investors getting in there, the hedge funds, the private equity pouring millions and billions of dollars into distressed properties. that's what's pushing prices up in the double digits in phoenix and las vegas that's creating these bubbles that i agree are unsustainable. if private equity agrees to pull out suddenly, and i'm not sure they will, because they want to get that rental demand, but if they pull out, isn't that the problem and not so much the mortgage rates? >> two points. one is they are riding into scottsdale, arizona, not on the back of a john deere lawn mower, but they are riding in essentially on a hoover vacuum cleaner sucking up all the inventory and driving prices up and h
demand, but we can't keep interest rates this low for a long period of time, because after inflation and taxes, 30-year money is earning nothing. it's been a huge mistake, and once interestes start to rise. >> right. >> where are the buyers going to be? >> but, david, is it really about the interest rates right now, or is it, i agree with you that there's a bubble definitely, but i think it's driven by the investors getting in there, the hedge funds, the private equity pouring...
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low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. connell: all right. so an interesting day in the market. stocks are down, as we've been talked about. it's been tough going in the bond market, we've also talked about investors concerned maybe they missed the run in equity, so we have an argument right now to be made for small cap stocks. dagen: chairman and ceo of asset management. good to see you. small caps are up more than your other market gauges. the russell 2000 chosed at a record on friday. why would you bet on an already-hot group of stocks? >> i guess we should quit then, huh? [laughter] i mean, the game's over. dagen: there are always options. >> no, there's many options. here's the thing. i don't believe in buying markets.
low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. connell: all right. so an interesting day in the market. stocks are down, as we've been talked about. it's been tough going in the bond market, we've also talked...
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if you oh mention those words it will be tax, tax, tax. i will control the public dialogue and that's all we'll e talk about. guys, fold your cards now. that's what this is about. i don't think there will be more tax hikes this year. there's also not going to be spending reform. all the talk about tax hikes is obama's way of making sure that america doesn't deal with its true problem which is its spending problem. >> i will cross that bridge when i get to it. dave goldman, this didn't have a general market impact, but the federal government, the justice department, a couple of left wing attorneys general, they will all sue s&p. they're probably going to sue moody's. mcgraw hill fell. they will sue s&p for being credit dummies on mortgage-backed securities and collateralized debt obligations. i don't know. is this meritorious? it seems there is no law about being stupid. they were stupid. but if you can't show intent there is no law about stupid. why do this? >> you have e-mails from s&p officials saying we sold our souls to the issuers of
if you oh mention those words it will be tax, tax, tax. i will control the public dialogue and that's all we'll e talk about. guys, fold your cards now. that's what this is about. i don't think there will be more tax hikes this year. there's also not going to be spending reform. all the talk about tax hikes is obama's way of making sure that america doesn't deal with its true problem which is its spending problem. >> i will cross that bridge when i get to it. dave goldman, this didn't...
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gun control and taxes, or tax increases, i should say. we had the assault weapon ban for three years. gun violence has gone down after it ended in 2004. tax rates, even the president said about a year and a half ago that when the economy is sliding, the last thing in the world you want to do is raise tax rates. that is what he is doing. >> let's talk about gun control. the president was in minnesota on monday. if we could just save one life, we have to try. in other words, we have to try to pass an anonymous national law to save one life? we had an assault weapons ban from 1994-2004. the national research council did an enormous study in 2004 and came to the conclusion that there was no way to know if any of this work. barack obama seems undeterred by the idea of passing enormously colossal balls david: you just want an election -- he has won reelection based on a motion. not based on facts and numbers. >> he is opposing his emotions, translating his emotions into laws like obamacare or dodd-frank that are so big, so complex, there are pa
gun control and taxes, or tax increases, i should say. we had the assault weapon ban for three years. gun violence has gone down after it ended in 2004. tax rates, even the president said about a year and a half ago that when the economy is sliding, the last thing in the world you want to do is raise tax rates. that is what he is doing. >> let's talk about gun control. the president was in minnesota on monday. if we could just save one life, we have to try. in other words, we have to try...